ZHEJIANG DAHUA TECHNOLOGY CO., LTD. Financials Zhejiang Dahua Technology Co., Ltd.
Equities
002236
CNE100000BJ4
Communications & Networking
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 17.36 CNY | +3.09% |
|
+0.35% | -5.91% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 57,833 | 59,582 | 70,336 | 34,305 | 60,444 | 56,848 | - | - |
| Enterprise Value (EV) 1 | 55,330 | 53,390 | 65,374 | 29,545 | 46,332 | 40,155 | 39,582 | 35,036 |
| P/E ratio | 18.1 x | 15 x | 20.4 x | 14.3 x | 7.99 x | 14.3 x | 11.8 x | 10.2 x |
| Yield | 0.67% | 1.35% | 1.15% | 2.13% | 2.07% | 2.01% | 2.29% | 2.21% |
| Capitalization / Revenue | 2.21 x | 2.25 x | 2.14 x | 1.12 x | 1.88 x | 1.6 x | 1.38 x | 1.25 x |
| EV / Revenue | 2.12 x | 2.02 x | 1.99 x | 0.97 x | 1.44 x | 1.13 x | 0.96 x | 0.77 x |
| EV / EBITDA | 14.6 x | 11.6 x | 16.9 x | 10.3 x | 5.26 x | 8.78 x | 7.07 x | 5.55 x |
| EV / FCF | 51.4 x | 14.2 x | 119 x | -129 x | 14.7 x | 12.1 x | 15.8 x | 8.36 x |
| FCF Yield | 1.94% | 7.05% | 0.84% | -0.78% | 6.81% | 8.24% | 6.33% | 12% |
| Price to Book | 3.82 x | 3.01 x | 2.98 x | 1.33 x | 1.75 x | 1.53 x | 1.43 x | 1.25 x |
| Nbr of stocks (in thousands) | 2,909,125 | 2,995,580 | 2,995,580 | 3,033,161 | 3,276,111 | 3,274,649 | - | - |
| Reference price 2 | 19.88 | 19.89 | 23.48 | 11.31 | 18.45 | 17.36 | 17.36 | 17.36 |
| Announcement Date | 2/27/20 | 2/26/21 | 4/22/22 | 4/27/23 | 4/15/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 26,149 | 26,466 | 32,835 | 30,565 | 32,218 | 35,629 | 41,124 | 45,300 |
| EBITDA 1 | 3,794 | 4,588 | 3,865 | 2,870 | 8,811 | 4,573 | 5,595 | 6,309 |
| EBIT 1 | 3,497 | 4,257 | 3,472 | 2,280 | 8,141 | 4,018 | 4,963 | 5,544 |
| Operating Margin | 13.37% | 16.08% | 10.57% | 7.46% | 25.27% | 11.28% | 12.07% | 12.24% |
| Earnings before Tax (EBT) 1 | 3,499 | 4,249 | 3,470 | 2,287 | 8,122 | 4,315 | 5,167 | 5,987 |
| Net income 1 | 3,188 | 3,903 | 3,378 | 2,324 | 7,362 | 3,963 | 4,757 | 5,379 |
| Net margin | 12.19% | 14.75% | 10.29% | 7.6% | 22.85% | 11.12% | 11.57% | 11.87% |
| EPS 2 | 1.100 | 1.330 | 1.150 | 0.7900 | 2.310 | 1.216 | 1.467 | 1.697 |
| Free Cash Flow 1 | 1,075 | 3,762 | 548.1 | -229.9 | 3,157 | 3,309 | 2,506 | 4,193 |
| FCF margin | 4.11% | 14.21% | 1.67% | -0.75% | 9.8% | 9.29% | 6.09% | 9.26% |
| FCF Conversion (EBITDA) | 28.35% | 82% | 14.18% | - | 35.83% | 72.37% | 44.79% | 66.46% |
| FCF Conversion (Net income) | 33.73% | 96.39% | 16.22% | - | 42.88% | 83.49% | 52.68% | 77.96% |
| Dividend per Share 2 | 0.1330 | 0.2680 | 0.2700 | 0.2410 | 0.3820 | 0.3494 | 0.3968 | 0.3831 |
| Announcement Date | 2/27/20 | 2/26/21 | 4/22/22 | 4/27/23 | 4/15/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S2 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 15,343 | 16,628 | 11,350 | 19,330 | 5,848 | 8,239 | 7,085 | 9,394 | 16,478 | 6,016 | 8,618 | 7,645 | 9,940 | 17,585 | 6,181 | 9,352 | 8,409 | 10,934 | 6,979 | - |
| EBITDA 1 | - | - | 1,148 | - | - | 841.9 | 536 | - | - | - | - | - | - | - | - | 1,492 | 893.6 | 1,065 | 552.5 | - |
| EBIT 1 | 2,136 | 2,711 | 1,071 | - | 335.3 | 1,301 | 140.5 | 503.5 | 644 | 514.8 | 1,732 | 690.7 | 5,211 | - | 613.7 | 1,436 | 836.7 | 1,007 | 494.2 | - |
| Operating Margin | 13.92% | 16.3% | 9.44% | - | 5.73% | 15.79% | 1.98% | 5.36% | 3.91% | 8.56% | 20.1% | 9.03% | 52.43% | - | 9.93% | 15.36% | 9.95% | 9.21% | 7.08% | - |
| Earnings before Tax (EBT) 1 | 2,131 | 2,708 | 1,071 | - | - | 1,300 | 144 | 506.4 | 650.5 | 517 | 1,733 | 689.8 | 5,190 | - | - | 1,497 | 1,164 | 1,289 | 732.4 | - |
| Net income 1 | 1,949 | 2,534 | 979.4 | - | 355.6 | 1,164 | 173.3 | 631.3 | 804.5 | 495.4 | 1,481 | 614.1 | 4,772 | - | - | 1,354 | 1,049 | 1,167 | 681.1 | - |
| Net margin | 12.7% | 15.24% | 8.63% | - | 6.08% | 14.13% | 2.45% | 6.72% | 4.88% | 8.23% | 17.18% | 8.03% | 48.01% | - | - | 14.47% | 12.48% | 10.67% | 9.76% | - |
| EPS 2 | - | 0.8600 | 0.3400 | - | 0.1200 | 0.3900 | 0.0600 | 0.2200 | 0.2800 | 0.1700 | 0.4600 | 0.1900 | 1.490 | - | 0.1700 | 0.4006 | 0.3090 | 0.3542 | 0.2734 | 0.3800 |
| Dividend per Share 2 | - | - | 0.2700 | - | - | - | - | 0.2410 | - | - | - | - | 0.0700 | - | - | 0.3800 | - | - | - | - |
| Announcement Date | 2/27/20 | 2/26/21 | 4/22/22 | 4/22/22 | 4/22/22 | 8/19/22 | 10/28/22 | 4/27/23 | 4/27/23 | 4/27/23 | 7/11/23 | 10/20/23 | 4/15/24 | 4/15/24 | 4/15/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 2,504 | 6,192 | 4,962 | 4,760 | 14,112 | 16,692 | 17,266 | 21,812 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,075 | 3,762 | 548 | -230 | 3,157 | 3,309 | 2,506 | 4,193 |
| ROE (net income / shareholders' equity) | 22.7% | 22.1% | 15.6% | 9.49% | 22.4% | 10.7% | 12% | 11.9% |
| ROA (Net income/ Total Assets) | 11.4% | 11.8% | 8.38% | 5.15% | - | 7.08% | 7.62% | 8.02% |
| Assets 1 | 27,959 | 33,080 | 40,325 | 45,154 | - | 55,995 | 62,430 | 67,085 |
| Book Value Per Share 2 | 5.200 | 6.600 | 7.890 | 8.520 | 10.50 | 11.30 | 12.20 | 13.90 |
| Cash Flow per Share 2 | 0.5300 | 1.470 | 0.5800 | 0.3500 | 1.400 | 1.110 | 0.9100 | 1.200 |
| Capex 1 | 525 | 640 | 1,179 | 1,283 | 1,442 | 1,561 | 1,426 | 1,211 |
| Capex / Sales | 2.01% | 2.42% | 3.59% | 4.2% | 4.48% | 4.38% | 3.47% | 2.67% |
| Announcement Date | 2/27/20 | 2/26/21 | 4/22/22 | 4/27/23 | 4/15/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
17.36
CNY
Average target price
22.58
CNY
Spread / Average Target
+30.04%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -5.91% | 7.84B | |
| -5.33% | 42.32B | |
| -2.24% | 10.83B | |
| -5.72% | 5.79B | |
| +5.63% | 2.9B | |
| +6.61% | 2.22B | |
| +7.69% | 1.71B | |
| +28.06% | 1.61B | |
| +2.83% | 1.52B | |
| +5.71% | 1.53B |
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